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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Onward Opportunities Limited | ONWD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 122.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 122.00 | 122.00 | 122.00 | 122.00 | 122.00 |
| Industry Sector |
|---|
| PHARMACEUTICALS & BIOTECHNOLOGY |
| Top Posts |
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Posted at 05/12/2023 10:56 by strollingmolby Great interview with ONWD fund manager Laurence Hulse, with Michael Taylor |
Posted at 16/7/2023 10:07 by darrin1471 ONWD's first core position is in ANG. I also started buying ANG a month before ONWDONWD's first Factsheet Q2 2023 "With Angling Direct, we believe we have found an outstanding value opportunity hiding in plain sight; an attractive asymmetric risk profile underpinned by a net cash balance (£14m), that is c.65% of the market cap (c.£22m). The company represents either a growth or value investment, depending on various strategic decisions in the coming months. The business has a dominant market position in the UK, where it is profitable and cash generative from a repeat customer base of anglers, where market share can be grown further. These metrics are targeted to improve under new management supported by a UK consumer recovery. More recently, the business has been attempting to enter the much larger European market to provide additional earnings growth. Success has been limited so far, with annual losses that are material in the context of overall group profits, albeit in difficult conditions, whereas the UK business generates an EBITDA that is about double the current group number (which includes European losses) even in the recent tough trading conditions of 2022. Upside comes from when the European strategy starts to bear fruit in the near term and contribute profitable growth to the group, or from when it can be wound down to remove the losses from group profits and opportunity cost, and we would be left with a value investment in a leading UK retailer trading on less than 2x EV/EBITDA. We estimate a 6-month payback on a closure of the European strategy. Either of these outcomes would add more than 50% to EBITDA and this optionality is in the context of our entry valuation on Angling Direct of c.£20m, of which c.£14m is net cash and there is a further c.£16m of stock. ONWD shareholders, who have backed our active and engaged approach, can expect us to be working hard to drive one of these two profitable outcomes on our investment. We have noted with interest the consolidation of angling retailers in the USA and Nordic countries in recent years." |
Posted at 06/4/2023 15:50 by hedgehog 100 30/03/2023 07:00 UK Regulatory (RNS & others) Onward Opportunities Limited Admission to AIM and First Day of Dealings LSE:ONWD Onward Opportunities Limited"... Investing policy The Company will seek to achieve its investment objective by investing primarily in equity and equity-related securities of UK smaller companies that are predominantly listed or admitted to trading on markets operated by the London Stock Exchange, and where it is considered that there is a material potential valuation upside that can be delivered from catalysing strategic, operational or management initiatives In order to ensure that the Company is able to maintain its approach of active engagement with investee companies, and to encourage and support value creation, the Company will typically target meaningful minority stakes in investee companies of between 5 per cent. And 25 per cent. Of the issued share capital Whilst the Company has no limitation on the size of the companies in which it can invest, the Company typically expects to invest in companies with market capitalisations of no more than GBP250 million (with a particular focus on those below GBP100 million) at the time of investment. The Company will therefore focus on investments in the "micro" smaller companies sector and on companies admitted to trading on AIM Investee companies will typically have certain of the following characteristics: -- balance sheet asset backing; -- a competitive advantage and/or strong management track record; -- attractive cash flow potential; -- visibility of earnings/future earnings improvement; -- potential for liquidity and/or exit in line with the Company's targeted hold period; -- scope for an active shareholder to trigger value creation; and/or -- foreseeable events and catalysts to unlock intrinsic value Investments may be either direct investments made by the Company, or indirect investments made by the Company through similar funds or investment vehicles. The Company may make its investments for cash or for share consideration Although investments will not be restricted to specific sectors, the Company does not expect to pursue or make investments into companies in the biotechnology sector or in companies directly involved in extractive industries (such as mining or oil and gas) Whilst the Company will initially seek to take minority stakes in investee companies of between 5 per cent. And 25 per cent. And will not typically seek to take majority positions in investee companies, it will not be restricted from taking a majority position if considered appropriate by the Portfolio Manager The Company's portfolio is expected to be relatively concentrated, with a typical investment being between 2 per cent. And 10 per cent. Of Net Asset Value at the time of investment. This is expected over time to result in a portfolio of approximately 10 to 15 high conviction investments and a further 5 to 10 smaller portfolio holdings, in companies operating in a number of industries and geographic locations Whilst the Company will target an investment holding period of three to five years, actual holding periods and exit strategies will depend on the underlying investment, the availability of exit opportunities and the size of the Company's investment. The Company may therefore dispose of investments outside of the target timeframe should an appropriate opportunity arise The Company may hold cash in its portfolio from time to time to maintain investment flexibility. There is no limit on the amount of cash which may be held by the Company at any time. ..." This new UK small cap. investing company floating last week is an indicator of currently depressed valuations in good opportunities. And the checklist of characteristics they are looking for seems to fit NWT (Newmark Security) to a T:- "Newmark Security in 2023: A Transformed Tech & USA Success Story" |
Posted at 06/4/2023 12:07 by hedgehog 100 Current share price 6th. April 2023: 105p12,750,010 shares in issue Market capitalisation: £13.3875M. "An Investment Company managed by a team with c.160 years combined experience, targeting a structural market opportunity in smaller companies within the UK" 30/03/2023 07:00 UK Regulatory (RNS & others) Onward Opportunities Limited Admission to AIM and First Day of Dealings LSE:ONWD Onward Opportunities Limited "First Day of Dealings on AIM Newly launched investment company with UK smaller company focus Onward Opportunities Limited, the newly incorporated Guernsey incorporated non-cellular (closed-ended) investing company, is delighted to announce the admission of its entire issued ordinary share capital to trading on AIM, a market operated by the London Stock Exchange plc ("Admission"). Admission will take place, and dealings in the Company's ordinary shares of no par value ("Ordinary Shares") will commence, at 8.00 a.m. today under the ticker 'ONWD' . Key Highlights: -- The Company's investment objective is to seek to generate risk-adjusted absolute returns to shareholders through investments in UK smaller companies. Returns are expected to be principally derived from capital growth over a target three to five-year holding period with an appropriate diversification of investment risk. -- Dowgate Wealth Limited will provide portfolio management services to the Company, with the investment team led by Investment Director Laurence Hulse (the "Portfolio Manager"). -- The Board and the Portfolio Manager therefore believe that a structural market opportunity exists in the UK smaller companies sector which can be exploited through the deep industry experience of the Portfolio Manager. The Board and the Portfolio Manager consider that implementing an active investment approach to investment identification and position management can lead to increased returns by targeting these inefficiencies. -- Dowgate Wealth is an employee-owned, private company founded in 2020 by former Hargreave Hale colleagues. As at 30 January 2023, Dowgate Wealth has assets under administration in excess of GBP495 million. -- In connection with Admission, the Company has conditionally raised Gross Proceeds of c.GBP12.8 million of initial capital pursuant to the Placing at a price of 100 pence per Placing Share. Net Proceeds are intended to be invested in accordance with the Company's investing policy. -- The ISIN of the Ordinary Shares will be GGOOBMZR1514, the SEDOL of the Ordinary Shares BMZR151 and the Company's LEI number 2138000P1Q2B3E09LE92 Cenkos Securities plc ("Cenkos") is acting as Nominated Adviser, joint broker and joint bookrunner to the Company. Dowgate Capital Limited ("Dowgate Capital") is acting as joint broker and joint bookrunner to the Company. All capitalised terms used in this announcement and not otherwise defined shall have the meanings given to them in the Company's admission document dated 23 March 2023. The Company's admission document is available for viewing at www.onwardopportunit Laurence Hulse, Investment Director of Dowgate Wealth, commented : " We are pulling together for clients, the three core ingredients to make money; a clear market opportunity, a bespoke strategy to capture it and the people required to execute the plan. This launch puts in place the foundations to grow an investment company that can actively engage with UK smaller companies we identify value in. I would like to extend my thanks to our seed investors and the whole team for providing this fantastic onward opportunity to build upon. " Andrew Henton, Chairman of the Board, Onward Opportunities Limited added : " We believe that a structural market gap in the market exists within UK smaller companies which can be exploited through the deep industry experience of the investment team. We recognise that implementing an active approach to identifying these companies, and engaging with them, can support the SMEs that are the driving wheels of enterprise in the UK and lead to increased returns by targeting these inefficiencies. " Mark Chadwick, Chief Executive Officer, Dowgate Wealth added : " Dowgate Wealth is excited to be launching our first investment company, which sits right at home amongst the team's small cap investing heritage. The market volatility of 2022 has created a statistically interesting time to deploy capital into robust, well-researched investment ideas in the UK. We are confident that Onward Opportunities will prove to be a popular proposition for investors looking for an innovative product that can provide absolute returns. " .." |
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